1724 ET - KB Home's orders typically begin to ramp in late January and early February. That wasn't the case this year, though, as "the 2025 spring selling season started slower than in previous years, reflecting a decline in consumer confidence as consumers processed the variables relating to macroeconomic and geopolitical issues," COO Rob McGibney says on a call with analysts. "This decline in confidence is leading homebuyers to take longer to make their purchase decisions." In response, the homebuilder in mid-February took steps to stimulate demand by reducing base prices and lowering or eliminating incentives. "Consumers responded to these adjustments," McGibney says, adding that the company will consider more similar actions in the future if needed. Shares fall 6.3% in late trading after the company cuts its fiscal outlook. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 24, 2025 17:25 ET (21:25 GMT)
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